AGFiQ Market Correlations

QBTL Etf

CAD 18.91 0.04 0.21%

The current 90-days correlation between AGFiQ Market Neutral and iShares SPTSX 60 is -0.36 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AGFiQ Market moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AGFiQ Market Neutral moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

AGFiQ Market Correlation With Market

Very good diversification

The correlation between AGFiQ Market Neutral and DJI is -0.34 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AGFiQ Market Neutral and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to AGFiQ Market could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AGFiQ Market when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back AGFiQ Market - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling AGFiQ Market Neutral to buy it.

Moving against AGFiQ Etf

0.92	ZEB	BMO SPTSX Equal	Pair Corr
0.9	ZSP	BMO SP 500	Pair Corr
0.9	CMAG	CI Munro Alternative	Pair Corr
0.9	FEQT	Fidelity All in	Pair Corr
0.9	SITU	Scotia Equity Index	Pair Corr
0.89	VFV	Vanguard SP 500	Pair Corr
0.89	ZFC	BMO SIA Focused	Pair Corr
0.87	FBTC	Fidelity Advantage	Pair Corr
0.87	BTCQ	3iQ Bitcoin ETF	Pair Corr
0.86	USCL	Global X Enhanced	Pair Corr
0.86	HERO	Evolve E Gaming	Pair Corr
0.83	ZNQ	BMO NASDAQ 100	Pair Corr
0.82	HBGD-U	Global X Big	Pair Corr
0.8	XIU	iShares SPTSX 60	Pair Corr
0.8	ZCN	BMO SPTSX Capped	Pair Corr
0.79	XIC	iShares Core SPTSX	Pair Corr
0.79	CINV	CI Global Alpha	Pair Corr
0.78	XSP	iShares Core SP	Pair Corr
0.78	HRAA	Global X ReSolve	Pair Corr
0.77	QCLN	First Trust Nasdaq	Pair Corr
0.77	ZUAG	BMO Aggregate Bond	Pair Corr
0.75	MNY	Purpose Cash Management	Pair Corr
0.73	QETH-U	Ether Fund	Pair Corr
0.65	MCSB	Mackenzie Canadian Short	Pair Corr
0.64	XBB	iShares Canadian Universe	Pair Corr
0.62	ZAG	BMO Aggregate Bond	Pair Corr
0.62	GIQU	Guardian i3 Quality	Pair Corr
0.47	HSAV	Global X Cash	Pair Corr
0.91	ZGRO-T	BMO Growth ETF	Pair Corr
0.91	ZGRO	BMO Growth ETF	Pair Corr
0.9	XFN	iShares SPTSX Capped	Pair Corr
0.9	QUU	Mackenzie Large Cap	Pair Corr
0.89	ESGG	BMO MSCI Global	Pair Corr
0.88	HFU	BetaPro SPTSX Capped	Pair Corr
0.87	BTCC	Purpose Bitcoin CAD	Pair Corr
0.87	TGRO	TD Growth ETF	Pair Corr
0.86	CEW	iShares Equal Weight	Pair Corr
0.84	XDV	iShares Canadian Select	Pair Corr

Related Correlations Analysis

	XIU	XSP	XIC	ZAG	XBB	ZCN	ZSP	TCLB	VFV	ZEB
XIU		0.88	1.0	0.61	0.62	1.0	0.73	0.46	0.73	0.87	XIU
XSP	0.88		0.87	0.67	0.68	0.87	0.79	0.57	0.79	0.8	XSP
XIC	1.0	0.87		0.6	0.61	1.0	0.71	0.47	0.7	0.85	XIC
ZAG	0.61	0.67	0.6		0.99	0.6	0.62	0.81	0.62	0.6	ZAG
XBB	0.62	0.68	0.61	0.99		0.61	0.62	0.82	0.63	0.61	XBB
ZCN	1.0	0.87	1.0	0.6	0.61		0.71	0.46	0.7	0.86	ZCN
ZSP	0.73	0.79	0.71	0.62	0.62	0.71		0.22	1.0	0.93	ZSP
TCLB	0.46	0.57	0.47	0.81	0.82	0.46	0.22		0.22	0.26	TCLB
VFV	0.73	0.79	0.7	0.62	0.63	0.7	1.0	0.22		0.92	VFV
ZEB	0.87	0.8	0.85	0.6	0.61	0.86	0.93	0.26	0.92		ZEB
	XIU	XSP	XIC	ZAG	XBB	ZCN	ZSP	TCLB	VFV	ZEB

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AGFiQ Market Constituents Risk-Adjusted Indicators

There is a big difference between AGFiQ Etf performing well and AGFiQ Market ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze AGFiQ Market's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
XIU	0.45	0.04	0.04	0.16	0.61	(0.45)	0.89	(1.00)	3.69
XSP	0.56	0.03	0.02	0.06	0.89	(0.50)	1.22	(1.31)	5.61
XIC	0.44	0.04	0.03	0.15	0.63	(0.45)	0.86	(0.96)	3.74
ZAG	0.30	0.00	(0.06)	0.00	0.34	(0.34)	0.73	(0.57)	1.94
XBB	0.30	0.00	(0.06)	0.08	0.33	(0.34)	0.68	(0.53)	1.94
ZCN	0.44	0.04	0.03	0.16	0.60	(0.44)	0.82	(0.91)	3.68
ZSP	0.59	0.11	0.12	0.21	0.63	(0.61)	1.49	(1.24)	5.47
TCLB	0.60	(0.03)	0.00	5.52	0.00	0.00	1.34	(1.07)	3.80
VFV	0.57	0.11	0.13	0.22	0.61	(0.61)	1.53	(1.13)	5.25
ZEB	0.33	0.07	0.11	0.33	0.30	(0.35)	0.79	(0.57)	2.45

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Our tools can tell you how much better you can do entering a position in AGFiQ Market without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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